Cash App under Block will gradually launch stablecoin payment functionality

Odaily reported that Cash App, under Block, is gradually rolling out stablecoin payment functionality to its nearly 60 million users. According to sources, this feature currently covers about 25% of users and is expected to be available to 100% of users within this week.

The core feature launched this time allows users to deposit and withdraw using USDC, enabling free transfer of funds between external wallets and Cash App balances, and using stablecoins as a payment settlement tool instead of an investment product. Currently, it supports four blockchain networks: Solana, Ethereum, Polygon, and Arbitrum. As blockchain transactions are irreversible, entering an incorrect address or using an unsupported network will result in permanent loss of funds.

Block CEO Jack Dorsey previously stated that although he has long favored Bitcoin, user demand for stablecoins has prompted the company to adjust its strategy. (CoinDesk)